Top E-Bike and E-Scooter Startups in Korea – Micromobility

E-Bike and E-Scooter startups in Korea have been growing and expanding, especially across Seoul. Starting from Gangnam station and branching out, you will see more and more E-Scooters on the streets. These micro-mobility startups have placed e-scooters near over 100 subway stations in Seoul. It is estimated that more than 20 companies are operating over 50,000 e-scooters and e-bikes in Seoul. However, the citizens of Seoul are divided on whether these electric bikes and scooters are suitable for the community.

For the e-scooter/bike industry to strive in Korea moving forward, cities like Seoul need to make sure they designate where these electric bikes and scooters should be ridden and keep them safe for everyone. Through the Raod Traffic Act, enacted in mid-2021, E-scooter riders must be 16 years of age or over, have a valid driver’s license, and wear a helmet. These new regulations are one step.

The city of Seoul announced in late 2021 that they will build over 60,000 city electric motorcycles, including e-mopeds, and install over 200,000 additional electric charging stations by 2025. In addition, they plan to replace over 35,000 gas motorcycles used by delivery services with electric motors. They aim to reduce greenhouse gas emissions. Therefore, expect these micro-mobility startups to continue to get funded and succeed.

Top E-Bike and E-Scooter Startups in Korea

PUMP – Xingxing

Korean mobility startup PUMP is the operator of Xingxing, an e-scooter-sharing service. It first launched in the Gangnam district and now has over 8,000 e-scooters and 50,000 weekly riders. For their part in fighting COVID-19, Xingxing sprays ethanol on all aspects of the e-scooter, especially the handles whenever they change its batteries.

PUMP has raised $5.2 million for its Series A round.

SWING Mobility

SWING Mobility is considered the leading last-mile mobility service provider in South Korea. They have already deployed over 28,000 e-scooters in South Korea, and their service is now in more than 70 cities. All users have to do is download the SWING app and scan the QR code located on the e-scooter to ride it. They also created DAYRIDGE, which offers an e-scooter and e-bike sharing service for delivery riders.

Swing raised $24 million for their Series B round in early 2022. This brings their total investment to $33 million. The funds will go towards branching out of South Korea and into Japan. Swing does not only focus on E-Scooters but also E-Bikes and even E-Mopeds. Their goal for 2023 is to have over 100,000 of these units. Swing uses a franchise model, which allows Swing to expand its teams at a much faster rate than its competitors. Franchises buy the units from Swing, and the franchises charge and maintain the E-scooter, E-bikes, and E-mopeds using Swing’s proprietary software. Swing currently has over 50 franchise partners and expects to double that number by the end of 2023.

Olulo – Kickgoing

Korean mobility startup Olulo is the operator of the e-scooter sharing service Kickgoing. Users can download the Kickgoing app and create an account by inputting their phone numbers and credit card information. Furthermore, Kickgoing has over 700,000 users and operates over 10,000 e-scooters in Seoul.  However, to access the e-scooter, users must have a Korean driver’s license.

Once users download the app, there will be a QR code near the scooter’s handle. A 5-minute ride costs 1,000 won. An additional minute costs 100 won. Furthermore, they got an investment of $2.5 million from Hyundai Motor Company and Magna Investment.

At night, the company picks up the recharging, replacement, and relocation scooters.

Partnership with SparkPlus

SparkPlus will cooperate with Olulo to provide a service that allows its tenants and visitors to transport economically and conveniently. Therefore, they will launch “Kickgoing Business,” enabling SparkPlus tenants to use the startup’s scooter at a discounted price.

Deer Corporation

Deer is one of the few E-Scooter startups in Korea focused on autonomous scooters. They developed an autonomous electric scooter that returns to a location designated by a service provider after use. This solves the issue related to the parking e-scooters in Korea. Their electric scooter prototype utilizes depth camera technology which recognizes surroundings in 3D by sensing the depths of objects. Their e-scooter with 3D depth cameras can establish a highly accurate map of its surroundings while on the move. Therefore, it can understand the current location through its depth camera and move autonomously to the proper place.

It uses machine learning algorithms to reverse or perform evasion steering when it senses cars or pedestrians. The prototype is designed with two wheels in the front so that it does not fall easily compared to other e-scooters. The full commercialization of the prototype will take some time, but it is one of the more innovative e-scooter startups in Korea.

Eccov

Eccov is an e-bike developer that also created a modular cargo e-bike called  E-Tricyle. The Eccov E-Tricycle can be used for food or small package deliveries. Eccov began as a startup under Hyundai Motor Group’s in-house venture before becoming independent in 2019. They have over 30 patents thanks to their constant R&D. Their E-Tricycle is the world’s first modular three-wheeled bicycle platform utilizing automobile body production technology. They have been performing tests with major Korean courier companies for terminal delivery areas that vehicles can not access.

Nine2One (Elecle)

Nine2One is the operator of the e-bike/e-scooter sharing service Elecle. SoCar, the top car-sharing platform in Korea, bought them out. Elecle has over 400,000 users. It is in areas near universities such as Seoul National University and Korea University where there is high demand for short-distance travel. Elecle is very easy to use. Users must scan a bike’s QR code through Elecle’s mobile app. After use, the bikes need to be returned to designated parking spots. App users will be required to register a credit card in advance so that payments can be processed automatically when the bike is returned.

G-Bike

G-Bike is the creator of Z-Cooter, an app-based self-drive electric scooter rental platform. Users can find a nearby scooter, scan the QR code via their app & take the scooter. After reaching the destination, users need to park the scooter at a safe place, carry a parking picture & exit boarding. Their app is available for iOS & Android devices. In addition, G-Bike offers an online application to book electric scooters for its users, enabling commuters with easy mobility and is suitable for city conditions.